Other sister agency. Its a meritorious move. You said is, quote, good people operating in a flawed system. Would you explain that . Sure. There is a misalignment between the incentives that a person giving advice has and the best interest of the consumer. So, for instance, again, getting back to the tofels, if you have four or five different products under the current suitability rule that are suitable and product the first product, the variable annuity generates 26,000 a year in fees and another product, which would have a comparable return has a fraction of those fees, you have per verse incentive to steer them to the product that generates the most fees. And again, that is totally permissible so im not casting aspersions on the person that does it. Im saying thats not right. And we can device a system and i underscore what i said in my testimony, theres a substantial number of people, including one of the witnesses who will come up on the next panel, that operate under a fiduciary m
Filed a motion today that claims the fbi has evidence of top city leaders accepting illegal money but they claim federal prosecutors refused to good after them. Carolyn tyler has the story. Is the fbi corrupt or are politicians corrupt but i garren tie one or the other. Reporter curtis bringing recommendation raymond chow and 7 others go on trial this fall on charges of racketeering, Money Laundering and trafficking drugs and weapons. The charges came after a lengthy federal investigation. Now chow attorneys say it was selective prosecution that fbi documents show San Francisco mayor ed lee should also have been indicted. Concerning to the fbi he sat down with federal agents undercover. He took money from them. His staff took money from them supposedly knowledgeable about what the money was for and he attempted to, to i guess pay up on the bribe. Reporter late this afternoon mayor lee fired back saying the accusation are old and untrue. Everybody makes whatever alleys they want to make
All that would have otherwise gone toward retirement in addition to any pension plan they had but isnt available any more. We know that workers are not saving enough for their retirement. We know, as youve outlined, there has been a real shift from defined benefit to defined contribution plans. And that shift puts more responsibilities on workers shoulders to manage risks and to manage the decisions. Oftentimes without having investment expertise. Youve actually covered a lot of trt that i hope to cover territory that i hope to cover in my questions with you. In particular, about how workers with smaller accounts, those who arguably need the retirement protection the most, will have access to high quality and affordable advice. So im going to move to something a little bit more specific given some of the proud traditions in my home state of wisconsin. We actually have a history of cooperatives and mutual ownership companies. So companies that are owned northwest mutual for instance. Fo
The truth is that Young Children noticed differences very early, by the age of three and four theyre asking questions, theyre beginning to absorb the stereotypes and misinformation. Woodruff all that and more on tonights pbs newshour. Major funding for the pbs newshour has been provided by collette. Celebrating 100 years of travel, together. Babbel. A language app that teaches reallife conversations in a new language, like spanish, french, german, italian, and more. Babbels 1015 minute lessons are available as an app, or online. More information on babbel. Com. And with the ongoing support of these institutions this program was made possible by the corporation for public broadcasting. And by contributions to your pbs station from viewers like you. Thank you. Woodruff tomorrow marks a year since President Trumps election, and tonight could be a kind of referendum on his performance. In the days marquee event, Democrat Ralph Northam battled republican ed gillespie in the virginia governo
Allowing kids to talk about their differences. The truth is that Young Children noticed differences very early, by the age of three and four theyre asking questions, theyre beginning to absorb the stereotypes and misinformation. Woodruff all that and more on tonights pbs newshour. Major funding for the pbs newshour has been provided by collette. Celebrating 100 years of travel, together. Babbel. A language app that teaches reallife conversations in a new language, like spanish, french, german, italian, and more. Babbels 1015 minute lessons are available as an app, or online. More information on babbel. Com. And with the ongoing support of these institutions this program was made possible by the corporation for public broadcasting. And by contributions to your pbs station from viewers like you. Thank you. Woodruff on this election night, democrats have picked up wins in the two biggest races. Raplh northam has outpaced republican ed gillespie in the virginia governors race. Northam rece